Latest Sectors News

Reliance Industries has proposed investing about ?2.73 lakh crore over 30 years to develop India’s first integrated Underground Coal Gasification complex in Andhra Pradesh’s Eluru district. The project, subject to commercial viability after exploration, will use deep coal reserves in the Chintalapudi and Recherla blocks to produce syngas. View More

New Delhi: Reliance Industries Limited (RIL) has proposed to invest about ₹2.73 lakh crore over 30 years to develop India's first integrated Underground Coal Gasification complex in Eluru district of Andhra Pradesh, subject to commercial viability post exploration. The complex will be developed at the Chintalapudi and Recherla blocks in coastal Andhra Pradesh. The company recently secured the two coal blocks through an e-auction conducted by the coal ministry. Energy extraction The initial proposal of the company has pegged the potential investment at ₹2.73 lakh crore across the entire project life of 30 years. RIL will begin exploration activities in the current fiscal. The investment is proposed to be done in three phases. The exploration and pilot phase (from Q3 of 2026 to Q4 of 2027) will see an investment of upto ₹3,000 crore. According to the company's proposal submitted to the state government, which ET has seen, if the exploration is successful, RIL will invest ₹1,20,000 crore in the development phase from 2028-30 and ₹1,50,000 crore in the production phase from 2030 onwards. As per company estimates, the project is expected to create 3,000-5,000 direct jobs at steady-state operations and 20,000-35,000 indirect and induced livelihoods across the regional supply chain. Live Events Underground Coal Gasification (UCG) is an in-situ process that converts deep-seated coal which is too deep and uneconomical for conventional mining, into usable synthesis gas (syngas) without physically extracting the coal. India has a vast coal resource of about 360 billion tonnes, with almost half of this (about 160 billion tonnes) too deep and economically unviable for conventional mining. UCG can convert AP's deep, otherwise stranded coal resources-over 1 billion tonnes across these two blocks alone-into a durable source of energy, chemicals and revenue for the State, without the land disturbance, displacement or underground manpower risk associated with conventional mining. RIL did not respond to an email requesting comment. The Chintalapudi coal block , which is spread across 3,000 acres, is estimated to contain 904.94 million tonnes of G-12 grade coal. The Recherla block, covering 5,500 acres, holds an estimated 2,225.67 million tonnes of G-13 grade coal. Together, the two mines are estimated to contain 3,130.61 million tonnes of coal reserves. Officials said the coal deposits lie at depths of more than 600 metres. The project is in sync with National Coal Gasification Mission 's objective of 100 MT of coal gasification by 2030. UCG will help in reducing India's dependence on crude imports, which expose the economy to price volatility, currency movement, external supply shocks and geopolitical and maritime disruptions like closure of Strait of Hormuz. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The project covers 11,241.7 square metres across seven plots and involves redevelopment of nine existing buildings housing 133 members within 60 months View More

Buying into an unregistered housing project can expose homebuyers to legal, financial and construction risks. Here's how to verify a project and seek redress View More

Founder Anil Agarwal reminisces about his first office in Mumbai's Kalbadevi in 1975. With little money and immense determination, he transformed his initial challenges into opportunities. View More

A majority vote may let a housing society act against a member, but it cannot automatically take away your ownership or force you to sell or vacate your flat. View More

Germany-based Krones opened its new manufacturing facility in Karnataka's Kolar district. This impressive facility was built in a record eighteen months with a significant investment. The plant will produce packaging systems and machinery for the Indian market. It is expected to generate approximately four hundred new employment opportunities for local residents. Karnataka's Industries minister highlighted the state's investor-friendly industrial ecosystem. View More

Germany-based Krones , a global manufacturer of beverage and liquid-food processing and packaging technology, on Wednesday inaugurated its new manufacturing facility at Vemagal in Karnataka ’s Kolar district. The facility, built in a record 18 months, entails an investment of Rs 315 crore and is spread across 16,000 sq metres on a 30-acre site. It is expected to create around 400 jobs. Karnataka Industries minister M B Patil, who inaugurated the facility, said the state government approved Krones’ investment proposal in October 2024 and allotted 30 acres of land to the company. The foundation stone was laid on February 20, 2025. Also read: FSSAI asks food businesses to stop using metallic pins, wires in packaging “Within just 18 months, this impressive facility has come up. This is a remarkable achievement and sends a positive message to investors,” Patil said in a statement. Live Events The plant will manufacture Krones ErgoBloc packaging systems for the Indian market, along with machinery used to produce different types of bottles. The facility will also manufacture machines capable of producing up to 100,000 bottles an hour, the minister said. Krones employs around 21,000 people globally and reported a turnover of $5.65 billion last year, according to Patil. Highlighting the industrial potential of Vemagal and Kolar due to their proximity to Bengaluru, Patil urged companies setting up operations in the region to create employment opportunities for local youth based on their educational qualifications. He also said the Karnataka Industrial Areas Development Board (KIADB) has emerged as a key pillar of the state's investor-friendly industrial ecosystem. Kolar MP Mallesha Babu, MLA Kottanuru Manjunath, former MLC V R Sudarshan, designated German Consul General Dr Christoph Dorschfeldt, Krones COO Ralf Goldbrunner, Managing Director Thomas Woolfer and KIADB Special Land Acquisition Officer Suraj were among those present at the inauguration. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Brigade re-iterated its ambitious 20% pre-sales growth target of ?9,000 crore in FY27, banking on timely launches of residential projects spanning about 12 msf in the next year. View More

The transaction involves the carve-out of the India contract logistics business from Singapore-headquartered 20Cube Logistics, which will continue to focus on its core business of international freight forwarding. View More

Investcorp, a global alternative investment firm, on Wednesday announced that it has acquired 20Cube 3PL Solutions (“20Cube”), a leading digital-first contract logistics platform in India, for approximately Rs 500 crore. Through this investment, Investcorp will back the current founding team of Anand Seetharaman and Ranjan Kedia to accelerate 20Cube's next phase of growth by expanding its service offerings to cater to the growing demand from the rising manufacturing activity in India. In addition, 20Cube and Investcorp will seek to invest another INR 500-750 crore to acquire synergistic contract logistics businesses. The transaction involves the carve-out of the India contract logistics business from Singapore-headquartered 20Cube Logistics, which will continue to focus on its core business of international freight forwarding. The India contract logistics business currently operates over 7 million square feet of warehousing space, serving large enterprise customers across the consumer durables, chemicals, automotive components and engineering goods sectors. It plans to scale to over 20 million square feet of warehousing space over the next four to five years. Gaurav Sharma, Head of India Investment Business at Investcorp, said: “We are pleased to announce the acquisition of 20Cube, in partnership with the founders Anand and Ranjan, as the company embarks on its next phase of growth. This investment reflects our continued conviction in India's rapidly evolving contract logistics sector, where we currently participate through NDR Warehousing and Miebach Consulting. As India's supply chains continue to modernize, we look forward to working closely with 20Cube's leadership to scale a technology-enabled logistics platform that creates lasting value for customers, employees, and stakeholders.” Anand Seetharaman, Managing Director, 20Cube 3PL Solutions, said: “This investment marks a defining milestone in 20Cube’s growth journey. Over the years, the team has built a customer-centric, service-first, and digitally enabled contract logistics platform for executing scalable, high-efficiency supply chain solutions . With Investcorp’s global institutional backing and deep sector expertise, we are well positioned to accelerate our technology capabilities, expand our pan-India network, and deliver enhanced value across India's rapidly modernizing logistics ecosystem.” Ranjan Kedia, Chief Executive Officer, added: “As we embark on this exciting growth journey, our commitment to our customers remains paramount. With our existing management team firmly at the helm, we offer our clients seamless continuity, operational rigor, and an unwavering commitment to service excellence.” Live Events Varun Laul, Partner at Investcorp, added: “In a market largely driven by fixed-space, manpower-based contracts, 20Cube differentiates itself with on-demand multi-client warehousing that seamlessly integrates transportation and other value-added services. Not only does this deliver greater value for customers, it also creates a more resilient business. 20Cube, with its focus on consumer durables, automotive components, chemicals and engineering goods, is extremely well-placed to benefit from increasing manufacturing activity resulting from the ‘Make in India’ program.” Investcorp’s India team focuses on growth-stage investments across consumer, healthcare, financial services, software and business services, with a preference for businesses that leverage technology to drive scale and operational excellence. Its investments in India include Global Dental, Wakefit, Canpac, NuSummit, Easy Home Finance, Xpressbees, Nephroplus, Safari Industries, NDR Warehousing, InCred, Citykart, Zolo, Fresh to Home, ASG Eye Hospitals, Intergrow Brands, Unilog, V-Ensure, Insurance Dekho, and Wingreens. On this transaction, Ernst & Young LLP served as the financial and tax advisor and Anagram Partners as legal counsel to Investcorp, while IndigoEdge served as financial advisor to 20Cube. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

. At the reported sale value, a 10,000 sq ft residence would translate into an indicative ticket size of around ?37 crore, excluding GST. View More

Amid strong investor interest, the Lalithaa Jewellery Mart IPO has captured attention on its last day of bidding. With notable oversubscription across all categories, the grey market premium is on the rise, reflecting a positive outlook for its market debut. The funds raised are earmarked for retail expansion and enhancing inventory, positioning Lalithaa Jewellery Mart advantageously within the growing organised jewellery sector. View More

Lalithaa Jewellery Mart IPO witnessed strong investor interest on the third and final day of bidding. The issue was subscribed 63 times, led by strong QIB demand. The retail portion has been subscribed over 11 times against the 3.12 crore shares reserved for them. Meanwhile, the IPO’s grey market premium (GMP) has risen to around 20%, compared with 15% earlier, indicating strong market expectations ahead of the close of the subscription window. Lalithaa Jewellery Mart has set the IPO price band at Rs 190–Rs 201 per share. The Rs 1,700-crore issue comprises a fresh issue of Rs 1,200 crore and an offer for sale (OFS) of Rs 500 crore by promoter and founder Kiran Kumar Jain. The IPO opened for subscription on August 17 and closes today, August 19, 2026. Share allotment is expected to be finalised on August 20, while the company’s shares are likely to be listed on the NSE and BSE on August 24, subject to applicable timelines. Anand Rathi Investment Banking and Equirus are the book-running lead managers for the issue, while MUFG is acting as the registrar. Live Events Also Read: Shiprocket Share Price: Shiprocket shares list at 35% premium Lalithaa Jewellery secures Rs 508 crore from anchor investors Lalithaa Jewellery Mart Limited has raised Rs 508.20 crore from anchor investors ahead of its IPO. In a regulatory filing, the company said it allotted 2,52,83,581 equity shares at Rs 201 per share to 22 anchor investors. Lalithaa Jewellery IPO GMP Today The Lalithaa Jewellery Mart IPO is currently commanding a grey market premium (GMP) of around 20%, suggesting an unofficial premium over the upper end of the IPO price band of Rs 201 per share. At this GMP, the indicative listing price stands at around Rs 241 per share. However, GMP is an unofficial and unregulated indicator and can fluctuate before the stock makes its market debut. Lalithaa Jewellery IPO Subscription Status The public issue of Lalithaa Jewellery Mart was subscribed 62.97 times overall by the close of the final day of bidding, according to exchange data. The issue received bids for 395.22 crore shares against the 6.27 crore shares on offer, showed the NSE data. Qualified institutional buyers (QIBs) led the demand, with their portion subscribed 145.38 times. The category had 1.78 crore shares reserved for subscription. The non-institutional investors (NII) segment followed, with the portion subscribed 73.90 times against the 1.33 crore shares allocated to the category. Meanwhile, the retail individual investors (RII) portion was subscribed 11.81 times, compared with the 3.12 crore shares reserved for retail investors. Valuation One of the key attractions of the issue is its valuation. At the upper end of the price band, Lalithaa Jewellery Mart's price-to-earnings (P/E) ratio based on diluted FY26 EPS stands at 9.95 times. At the lower end, the P/E works out to 9.41 times. That compares favourably with the average industry peer-group P/E of 29.69 times for FY26, suggesting that the IPO is being offered at a relatively modest valuation compared with the broader industry. The floor price represents 38 times the face value, while the cap price represents 40.20 times the face value. Lalithaa Jewellery IPO use of proceeds Lalithaa Jewellery plans to deploy the net proceeds from its IPO primarily towards an ambitious retail expansion, earmarking funds to set up 10 new stores. Of the total Rs 1,033.23 crore proposed to be utilised, Rs 34.55 crore will go towards capital expenditure, including store fit-outs, furniture and fixtures, equipment, and IT hardware and software. The bulk of the proceeds, Rs 998.68 crore, will be invested in inventory required to launch and stock these new outlets. The IPO proceeds therefore underline Lalithaa Jewellery’s strategy of strengthening its physical retail footprint and building inventory capacity to support future growth. While the lion’s share of the funds is directed towards inventory for the new stores, the remaining amount will be used for general corporate purposes, giving the company some flexibility to meet broader business requirements as it expands. Strong FY26 financial performance Lalithaa Jewellery Mart enters the IPO market after reporting a sharp improvement in its financial performance. The company's total income jumped 48 per cent year-on-year, rising from Rs 16,907.88 crore in FY25 to Rs 25,039.80 crore in FY26. Profitability saw an even stronger acceleration. Profit after tax (PAT) surged 177 per cent, from Rs 364.73 crore in FY25 to Rs 1,009.82 crore in FY26. Also Read: Strong Q1 results spark stock-picking rush: 50 top ideas for investors to buy About Lalithaa Jewellery Mart The retailer sells gold, silver and diamond jewellery under the Lalithaa brand, with products tailored to regional preferences across southern India. It operates 61 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry. Tier II and Tier III cities account for 45 of its stores and contributed 60.25 per cent of the company's revenue in FY26. Should you subscribe to the Lalithaa Jewellery Mart IPO? According to brokerage firm Master Capital Services, India’s gold jewellery retail industry was valued at Rs 10,619 billion in Fiscal 2026, clocking an impressive 20 per cent CAGR between Fiscal 2022 and Fiscal 2026. However, with gold prices remaining elevated and volatile, growth is expected to moderate to 3 to 5 per cent CAGR through Fiscal 2030. The industry is also witnessing a clear shift towards organised retail. Regulatory tailwinds such as GST, hallmarking and HUID, coupled with evolving consumer preferences, are expected to accelerate the transition from unorganised to organised jewellery retail. Organised chains could capture 45 to 50 per cent of the market by Fiscal 2030, while online jewellery is projected to contribute 9 to 11 per cent of industry revenues. South India continues to be the jewel in India’s jewellery consumption crown, accounting for nearly 40 per cent of total demand. The regional market stood at approximately Rs 5,026 billion in Fiscal 2026 and is expected to grow at 6 to 7 per cent CAGR, reaching Rs 6,200 to 6,600 billion by Fiscal 2030. Andhra Pradesh and Telangana are likely to emerge as key growth markets, gradually gaining share. Against this backdrop, Lalithaa Jewellery Mart Limited appears well placed to capitalise on the next phase of organised jewellery retail. Its strong South India footprint, particularly across Tier II and Tier III cities, gives it access to a large and evolving customer base. The company’s 61-store network, in-house manufacturing capabilities, large-format outlets, wide jewellery assortment and customer-focused schemes provide multiple levers for growth. With favourable industry dynamics, rising organised retail penetration and a strong regional presence, the Lalithaa Jewellery Mart IPO could offer investors an interesting long-term opportunity to participate in India’s evolving jewellery consumption story. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)